ByBit - The fastest growing derivatives exchange

By PVMihalache | Mind Puzzle | 24 Sep 2020


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Bybit : from idea to market leader

Bybit was established in March 2018 by a team of pioneering professionals from exchange and banking backgrounds, and has the HQ in the British Virgin Islands. The vision was to create an innovating crypto derivatives exchange and since then Bybit become one of the fastest growing platforms, with more than 1 million registered users. The exchange provides a professional and innovative trading experience, while focusing on two trading pairs: Bitcoin/USD and Ethereum/USD. The platform engine can hold up to 100k transactions per second, which offers unmatched speed for leveraged trading. Another big plus for Bybit is the fast registration, without KYC, either by using email or phone number.d885eb7660f3fa87f8dea903875fb4c6d2899669c0e869a593e4ecadd77b2e92.jpeg

What makes Bybit different?

  • Every user can custom trading views, however all of them will show the order book, the crypto price chard and the order history. Before choosing the exchange look, users are encouraged to check all, and than select the one that they prefer.
  • Low trading fees for both "makers" and "takers". Those placing an order which will match an available liquidity will be charged with 0.075% per order. The "maker" is paid to trade, and the fee is negative, set at -0.025%. Basically if an user provides $5000 as liquidity and the order is matched, he was to provide less, only $4987.50 . 
  • Lowest withdrawal fee in the global industry, only 0.0005 BTC, approximatelly $5 at today's price. The fee is 40% lower than the average BTC withdrawal fee
  • Constant software and platform improvements with 99.99% system functionality.  with a smart trading system, HD Cold Wallet and State-Of-The-Art pricing system.
  • Mobile app with user-friendly design, quick tabs for efficient trading and strategy alerts to take advantage of bear/bull runs.

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Strategy Alert

This is my favourite Bybit feature. Users can create as many strategy alerts and edit them whenever is needed. The feature can alert you when the price goes up, down, by a set percentage or dips for a set period of time. It took me 10 seconds to create a strategy alert for Ethereum low price and I got a $5 bonus for setting my first alert.67e2877815bdd09ac56c9112346cf9829da092130935c7d195cea8b267204e27.jpeg

Reward Hub

In the reward Hub, users can redeem vouchers for their activity or deposits. The bonus can be used as trading margin, activated by trading within 21 days after receiving it,  but cannot be withdrawn. Any profit from the bonus can be withdrawn. The bonus for first deposit can be claimed only one and can be valued from $5 up to $50, depending on the deposited amount. The Bybit bonus awarded will be forfeited upon any withdrawal.16eccbed372ea03a25ad4b0935a0185b64e4ba80889405544595065f7bc55d27.jpegI created a strategy alert on the Bybit App and I received the $5 instantly. I've completed every step of the Social Media Bonus, registered and joined ByBit social media channels via Twitter, and completed the form and another $5 was credited in 48 hours.1abb8c7e8d2fd3c44cfda8bfd691d813d6c0a3e7318575d18ce33efd234fcfbb.jpeg

Customer Support

Bybit was built on customer-centred platform and they aim to to provide an unparalleled smart, intuitive and innovative trading experience. The Customer Support Team offers 24/7 multi-language support and to be honest, is one of the best developed customer support I've seen, with ways to contact them and receive support on many social media platforms. You can solve your problems on the live chat available on the web-page. The following emails are allocated for various issues: [email protected] (Customer Support), [email protected] (IT Support), [email protected] (Affiliates), [email protected] (Media) and you can even contact the CEO directly on Twitter @benbybit

Referral Program

Bybit offers $10 trading bonus for every referral that will make an initial deposit of at least 0.02 Bitcoin, which at today's price is approximately $200. All new members are added into the program, and they can find the link selecting User > Referral program.37d2dc6dd83e7c9a263ba675fc9ab486cd6dd13fd106ff2ae0efdca5592954df.jpeg

Twitter & Telegram

The Twitter community is very active. Bybit constantly organises competitions and vouchers give away. I was lucky enough to win a Bybit mousepad, which I am currently waiting to receive. Will match perfectly my professional mouse. On the Telegram channel, the activity level is hectic, with hundreds of replays and comments. However, an Bybit admin is always ready to answer to queries and questions.

Attention!

The innovative leveraged trading must be done with caution, as massive returns dreams can lead to massive losses 📉 

 

Links and referrals:

Bybit trading platform

Bybit Blog

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